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Do Federal NOLs follow the person or the company?
I had a single-member LLC in CA which had some NOLs.
I moved out of CA and shut down the LLC.
As far as I can tell, my state NOLs are essentially terminated/ no longer pertain to anything - whether that's bc I have no more income in that or bc the LLC is closed, I'm not sure.
My question is if my Federal NOLs would still be available to use against my current (non-CA) W2 income? Are those NOLs attributed to me or the shut-down LLC?
TIA!
‎August 27, 2024
11:47 AM